Domestic Shipper’s Interest Cargo Insurance
While it is the FTL (Full Truck Load) Motor Carrier who bears responsibility for loss of and/or damage to the shippers goods, many carriers (LTL motor carriers, airlines, rail) limit their liability for freight in their care, custody and control. GSIS offers an “All Risk” cargo insurance policy to protect the shippers’ goods, when situations arise where the Motor Carriers policy does not respond.
A Cargo Insurance policy from GSIS will give you financial peace of mind. We cover losses that involve theft, breakage, water damage, non-delivery and pilferage. Our policies are affordable and based on the type of goods shipped, the shipping destination and value of the merchandise.
Shipper’s Interest Cargo Insurance
Our Shipper’s Interest coverage allows Freight Forwarders to offer full coverage for their client’s cargo up to 100 percent CIF plus 10 percent value. It is a critical value added service for a Freight Forwarding operation as all International Carriers limit their liability to cargo for as little as $500 per ocean shipment, $9.07 per pound for international air shipments and .50 per pound for domestic air shipments. Shippers Interest also provides coverage for General Average bonds, which can be a significant financial exposure for any Importer or Exporter. Our shipper’s Interest program also minimized the financial risk for Freight Forwarders to the cargo they arrange transport for. Having a tailored insurance program can be an additional source of value added service and revenue for the Freight Forwarder.